Georgian PM praises bank for plans to reduce interest rate for pensioners amidst opposition’s calls

Irakli Kobakhidze, the Prime Minister of Georgia, on Monday praised the domestic commercial Liberty Bank for its plans to reduce high interest rates for pensioners’ loans, amidst oppositions’ years-long calls and the inclusion of the issue in their election campaign for this year’s general elections. 

During a government meeting, Kobakhidze extended his gratitude to Liberty Bank for demonstrating “commendable social responsibility” and noted it had recently decided to decrease the prevailing interest rate by several percentage points, following discussions held the previous week with the leadership of the National Bank of Georgia. 

“We appreciate Liberty Bank’s commitment to social responsibility. While recognizing the bank’s commercial interests, we commend its decision to lower the existing interest rates by a significant margin,” Kobakhidze said.